The Cigna Group (NYSE:CI) is Wallace Advisory Group LLC’s 4th Largest Position

Wallace Advisory Group LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 0.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,171 shares of the health services provider’s stock after selling 41 shares during the quarter. The Cigna Group makes up 2.9% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 4th biggest position. Wallace Advisory Group LLC’s holdings in The Cigna Group were worth $4,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares during the last quarter. Hancock Whitney Corp boosted its holdings in The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares during the period. ORG Partners LLC bought a new position in The Cigna Group during the 2nd quarter worth approximately $489,000. Public Employees Retirement Association of Colorado increased its stake in The Cigna Group by 845.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock worth $13,290,000 after purchasing an additional 39,689 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in The Cigna Group in the fourth quarter valued at approximately $115,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $1.14 on Friday, reaching $341.70. The company’s stock had a trading volume of 720,032 shares, compared to its average volume of 1,495,753. The company has a 50-day simple moving average of $348.53 and a 200 day simple moving average of $345.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $97.07 billion, a P/E ratio of 28.05, a PEG ratio of 1.08 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $6.13 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Tuesday. Piper Sandler assumed coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Finally, Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.